Decision on further IMF arrangement to come 3rd week of July

Barbadians should know whether the country is entering into a new arrangement with the International Monetary Fund by the third week of July.

This from Prime Minister Mia Amor Mottley, who has claimed victory for Small Island Developing States following the establishment of the IMF’s Resilience and Sustainability Trust.

The trust would for the first time grant middle income countries like Barbados access to concessional financing based on their vulnerability.

It also significantly lengthens the loan period, which would be 20 years, with a 10 and a half year grace period before repayment starts.

About The Author